Legislation Affects CalSTRS
This year the Legislature approved and the Governor signed the following bills that affect CalSTRS members. These new laws are summarized below and more information is available under the Legislation section at CalSTRS.com. Unless otherwise noted, new laws take effect on January 1, 2008.
Sponsored or Supported by CalSTRS:
Assembly Bill 1316 (Bass)
Chapter 332, Statutes of 2007
Permits a Defined Benefit Program member to apply for and receive a service retirement pending a determination of his or her application for disability, subject to requirements and restrictions.
Assembly Bill 1432 (Soto)
Chapter 513, Statutes of 2007
Conforms Teachers’ Retirement Law to Federal Law: allows non-participating domestic partners to roll-over benefit distributions and permits purchase of foreign teacher service credit, subject to limitations.
Assembly Bill 757 (PER&SS)
Chapter 323, Statutes of 2007
Makes various technical and conforming changes to the Teachers’ Retirement Law.
Also of Interest
Assembly Bill 221 (Anderson)
Chapter 671, Statutes of 2007
Prohibits CalSTRS and the California Public Employees Retirement System from investing in companies with business operations in Iran and requires each pension system to sell or transfer any investments in a company with business operations in Iran. When the U.S. repeals its sanctions against Iran, the pension boards shall notify the Secretary of State, and the prohibitions and requirements in this bill will be repealed.
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